“Lenovo’s rise is more than a corporate success story. It demonstrates the powerful potential of China Inc. to expand beyond low-end manufacturing and develop global brands. The company also reflects the uniquely hybrid nature of most of corporate China: It is a product of a Communist Party-ruled state—the government still owns 36 percent of its parent, Legend—but it competes vigorously in the global market.”

“The fiscal cliff that is looming on Jan. 2—a $500 billion combination of rising tax rates and expiring preferential tax policies—is a historic and completely obvious threat to our economy. In 2008, no one knew that the financial system was about to face cardiac arrest. But every American knows that unless Congress acts quickly, we will be hit with economy-crushing tax increases at the start of the New Year.”

Unfazed by a recent slump in the Dow, veteran investor Warren Buffet is taking advantage of the chance to increase his equity holdings. “If the market is down, I am happier buying. If I go to the supermarket and they have reduced prices, I feel better. So if I go to the stock exchange and they have reduced prices I feel better.” Indeed, he believes growth will continue in the U.S., which has stronger fundamentals than Europe.

The International Monetary Fund (IMF) released its World Economic Outlook. It predicts that during the next four years, the U.S. “will be the strongest of the world’s rich economies. U.S. growth is forecast to average 3 percent, much stronger than that of Germany or France (1.2 percent) or even Canada (2.3 percent). Increasingly, the evidence suggests that the United States has come out of the financial crisis of 2008 in better shape than its peers — because of the actions of its government.”

There’s no end in sight to Europe’s “carmaking crisis.” Sales have fallen for 5 straight years in the EU. In September, year-on-year sales were down 11% across the EU, 18% in France, 26% in Italy and 37% in Spain. “Britain was the only significant market to enjoy a small rise.” With production capacity of 17 million cars a year, and current demand around 13 million units, “the overcapacity is glaring.”

“The lesson that should be learned from Greece is that its fiscal mess has been made far worse by severe budget cuts.” Data released on Monday shows that the EU “countries that have most ruthlessly cut their budgets — Greece, especially — have seen their overall debt loads increase as a share of the economy.”

“We’re in the final few months of what’s shaping up to be the hottest year on record. In September, Arctic sea ice melted to its smallest extent in satellite records, while the Midwest was rocked by a once-in-a-generation level drought. Global carbon dioxide emissions hit a record high in 2011 of 34.83 billion tons, and they will almost certainly be higher this year….Given all that, it might seem reasonable to think that climate change —and how the U.S. should respond to it — would be among the top issues of the 2012 presidential election.” Instead, climate change has gone largely unmentioned.

“While Monday’s trade gap increases the chance the Bank of Japan will embark on yet another round of monetary easing amid a liquidity trap, the government has recently signalled its intention to launch a new stimulus. However, don’t bet on a pro-growth fiscal game-changer.” Any stimulus will probably “prove too little, too late.”

Two years ago, Canada blocked a $39 billion takeover of Potash by BHP Billiton. Last week, Canada blocked a $5.3 billion takeover by Petronas of Progress Energy Resources. The decision was misguided, threatening a deal that is good for Progress shareholders and for Canada’s industry. Worse than the ruling itself, though, was the arbitrary and opaque process from which it emerged.” Until a clear framework is established, “it will be understandable if investors believe their money is no longer welcome in Canada.” Next month should be telling as Canada will decide whether to approve CNOC’s $15 billion takeover of Nexen.

“A big market crash happened 25 years ago this week. The wrong lessons were taken from Black Monday. ” One important lesson went unheeded as both the Internet and real estate bubbles inflated. “Any extended period of rapidly rising prices is an indication of a bubble—and that sadly there is no painless way to clean up the mess after the bubble pops.”